Energy Technology Connections Newsletter: Your Law Firm Link to Industry News – June 2015


Energy Technology Connections Newsletter: Your Law Firm Link to Industry News – June 2015

In This Issue:

– Leaders in the News

– Innovator Profile

– Event Highlights

– Washington Update

– Energy Navigator

– Upcoming Events

– Excerpt from Leaders in the News:

Congratulations to our client, NanoSteel, for receiving a $10 million venture loan facility from Horizon Technology Finance to support the continued development and commercialization of NanoSteel’s advanced portfolio of patented steel alloys. NanoSteel is a privately held company founded in 2002 as a spinoff of the US Department of Energy’s Idaho National Laboratory. The company specializes in the design and commercialization of steels with exceptional mechanical properties derived from their nano-scale microstructure.

At the beginning of June, with the help of a dedicated Mintz Levin team, NanoSteel secured $10 million in funding to go towards general working capital purposes — a deal that represents a significant accomplishment for the company. David Paratore, President and Chief Executive Officer of NanoSteel, stated, “We welcome the financial partnership of Horizon, an experienced venture lender with a strong balance sheet and long track record of supporting dynamic growth-oriented companies, such as ours. Horizon’s $10 million venture loan facility provides us with growth capital to achieve near-term commercial scale and product qualification milestones.” NanoSteel focuses primarily on proprietary alloys for use as sheet steel in automotive lightweighting applications and metal powder for 3D printing of industrial parts. Since its founding in 2002, NanoSteel has developed multiple generations of ferrous materials innovations including metallic coatings, powders, and sheet steel protected by over 400 patents filed or granted worldwide.

Please see full issue below for more information.

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Leaders in the News
Congratulations to our client, NanoSteel, for receiving a $10 million venture loan facility from Horizon
Technology Finance to support the continued development and commercialization of NanoSteel’s advanced
portfolio of patented steel alloys. NanoSteel is a privately held company founded in 2002 as a spinoff of the US
Department of Energy’s Idaho National Laboratory. The company specializes in the design and
commercialization of steels with exceptional mechanical properties derived from their nano-scale
microstructure.
At the beginning of June, with the help of a dedicated Mintz Levin team, NanoSteel secured $10 million in
funding to go towards general working capital purposes — a deal that represents a significant accomplishment
for the company. David Paratore, President and Chief Executive Officer of NanoSteel, stated, “We welcome
the financial partnership of Horizon, an experienced venture lender with a strong balance sheet and long track
record of supporting dynamic growth-oriented companies, such as ours. Horizon’s $10 million venture loan
facility provides us with growth capital to achieve near-term commercial scale and product qualification
milestones.” NanoSteel focuses primarily on proprietary alloys for use as sheet steel in automotive
lightweighting applications and metal powder for 3D printing of industrial parts. Since its founding in 2002,
NanoSteel has developed multiple generations of ferrous materials innovations including metallic coatings,
powders, and sheet steel protected by over 400 patents filed or granted worldwide. For more information on
NanoSteel and its continued success, please visit its website.
Also in the news, our client Susan Hunt Stevens, CEO and Founder of WeSpire, received the EY Entrepreneur
Of The Year 2015 Award in the “Emerging” category in New England. The award recognizes outstanding
entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial
performance, and personal commitment to their businesses and communities. At WeSpire, Susan and her team

Thomas R. Burton, III

Sahir Surmeli

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have done just that, as their employee engagement platform encourages action across corporate sustainability,
social responsibility, and well-being programs. Upon receipt of the award, Susan said, “Being recognized by EY
and earning this award is a big deal. We are here because we believe business can change the world for the
better and I am grateful to be part of it.” Congrats to Susan and the entire WeSpire team!
Finally, congratulations to our Practice Chair Tom Burton and Co-chair Sahir Surmeli, for making Wunder
Capital’s list of The 100 People Shaping #Cleantech on Twitter! Tom and Sa both met the stringent criteria
stipulating that, among other things, the majority of their tweets and at least 50% of their work pertains to the
clean-tech field. Tom was featured with “the thinkers…responsible for asking the right questions — and finding
the right answers,” while Sa shares company with “the doers,” working the industry’s trenches. Don’t miss out —
to find out all the latest on clean energy and technology, be sure to follow Tom (@tomburtonIII) and Sa
(@energycleantech) right now!

Innovator Profile
This month we’re featuring Gotham Greens, a Brooklyn-based urban agriculture company that designs, builds,
and operates commercial-scale greenhouse facilities for fresh vegetable production. Founded in 2011, Gotham
Greens quickly became a global urban agriculture leader and one of New York State’s leading producers of
premium-quality, greenhouse-grown vegetables and herbs. Through innovative and sustainable methods,
Gotham Greens grows delicious varieties of lettuce and tomatoes right in New York City, and soon, Chicago!
Gotham Greens has built over 95,000 square feet of rooftop greenhouse facilities in New York City and an
additional 75,000 square feet in Chicago, with several other projects under development.
Gotham Greens approaches farming in ways that are not just sustainable, but that are specifically tailored to
their unique locations. Gotham Greens’ greenhouses use a sophisticated computer system to give farmers total
control over the growing environment. This system also prioritizes preserving water and energy efficiency.
Employing hydroponics, the greenhouses effectively re-circulate water without harmful soil erosion.
Environmental control systems, advanced thermal design features, and onsite renewable energy sources help
farmers conserve valuable energy.
Both Gotham Greens’ cutting-edge techniques and delicious products have received consistent acclaim. The
company was a grand prize winner of the New York Green Business Competition, winner of an Environmental
Excellence Award from the New York Department of State, and the 2013 Brooklyn Chamber of Commerce Made
in Brooklyn Award winner. Just last month, Gotham Greens was featured in Edible Brooklyn’s 2015 Innovation
Issue and appeared on a segment of Food Network star Justin Warner’s hit show, Foodie Call. For a list of
where to find Gotham Greens’ products, click here. Congratulations and keep up the good work!

Event Highlights
Our practice recently celebrated our 10-year anniversary at District Hall in Boston. To mark over a decade of
helping energy innovators succeed, our Energy Technology Practice Group would like to thank our more
than 250 clients nationwide for aiding in our success. For a recap of this event, including photos, view our
blog post here.

Washington Update
The House and Senate are in session until the July 4 recess, and have full schedules until then. House Majority
Leader Kevin McCarthy (R-CA) has outlined additional June issues to include agricultural legislation, Affordable
Care Act measures, and Environmental Protection Agency regulations. EPA regulations specifically include
legislation allowing states to opt out or defer compliance with the Clean Power Plan (H.R. 2042), to address coal
ash (H.R. 1734), and to modernize the Toxic Substances Control Act (H.R. 2576).
During a June 2 House Energy and Commerce Subcommittee on Energy and Power hearing, full committee
Chair Fred Upton (R-MI) said that the committee should consider legislation this year to end the 40-year crude oil
export ban. The lower chamber’s broad energy package does not currently include such a measure, but
Representative Upton hopes to work with Subcommittee Chair Ed Whitfield (R-KY) and others to add language
to the legislation.
The Western Governors’ Association endorsed legislation (H.R. 1734) on May 15 that would allow states to draft,
implement, and enforce their own permitting programs for coal ash management and disposal. The House is
likely to consider the measure from Representative David McKinley (R-WV) before the August recess. Senator
John Hoeven (R-ND) is considering a Senate version of the measure, but has not yet introduced legislation. Also
in the House, The House Energy and Commerce Subcommittee on Energy and Power released on May 19 draft
legislation that would require the Department of Energy to expedite its approval process for liquefied natural gas
export projects and would state that cross-border energy projects will not require a presidential permit for
construction. The measure, which was considered during a May 21 hearing, will be incorporated into a broad
energy package that the full committee is preparing.
In the Senate, Senators Sheldon Whitehouse (D-RI) and Brian Schatz (D-HI) announced carbon fee legislation
at a June 10 event at the American Enterprise Institute. Senator Whitehouse hopes this bill introduction will
encourage serious debate over how best to address climate change. He introduced legislation late last year that
would require large greenhouse gas emitters to pay a $42 fee for every ton of emitted CO2; the collected
revenue would then be returned to taxpayers through economic assistance to low-income families, tax cuts, and
infrastructure investments. Senator Lamar Alexander (R-TN) said on June 5 that he is confident that Senate
Majority Leader Mitch McConnell (R-KY) will bring the $35.4 billion energy and water spending bill (H.R. 2028) to
the floor before the August recess, despite threats by Senate Democrats to block the measure over a funding
level dispute. On May 21, the Senate Appropriations Committee approved the bill that would provide $29.4 billion
for the Department of Energy, $5.5 billion for the US Army Corps of Engineers, and $1.1 billion for the Interior
Department’s Bureau of Reclamation.
On the administration side, the Environmental Protection Agency sent its final Clean Power Plan to the White
House Office of Management and Budget for interagency review on June 3. The agency is expected to release
final greenhouse gas standards for new, existing, and modified power plants in August. OMB is also reviewing
the agency’s final new source performance standards for new power plants. On May 20, the White House
released a report on the National Security Implications of a Changing Climate. The same day, during his
commencement address at the US Coast Guard Academy, President Obama said that climate change poses a
significant threat to national and global security and that it will impact how the American military defends the
United States.
The DOE’s Energy Information Administration released an analysis on May 22 of the Environmental Protection
Agency’s Clean Power Plan. The report predicts that under the plan, 90 GW of coal capacity will retire by 2040,
an increase from the 40 GW projected under current regulations. The report estimates natural gas utilization
capacity to peak at 57% in 2020, and forecasts that energy efficiency and renewable energy will dominate state
compliance strategies after an initial period of high natural gas use. The report forecasts that the plan will result
in a power sector CO2 emissions reduction of between 29% and 36% from 2005 levels, in line with the
Environmental Protection Agency’s own projections.
At the Interior Department, the Bureau of Ocean Energy Management granted a conditional approval on May 11
to Royal Dutch Shell to explore for oil this summer in the Chukchi Sea. Shell must still obtain a drilling permit
from the Bureau of Safety and Environmental Enforcement and state regulatory clearance. In response, Senator
Chuck Schumer (D-NY) led 17 of his colleagues on May 22 in sending a letter to Interior Secretary Sally Jewell
asking the administration to stop the approval process to allow Royal Dutch Shell Plc to explore for oil in Alaska’s
Chukchi Sea this summer, as well as to halt all other oil and gas drilling permits in the Arctic region. The group
contends that the Bureau of Ocean Energy Management did not fully account for the likelihood of oil spills and
their environmental impact when it issued a conditional approval earlier in the month.
Speaking at the 2015 Ceres conference on May 14, Environmental Protection Agency Administrator Gina
McCarthy urged businesses to continue promoting the economic benefits of addressing climate change.
Members of the conference recently sent a letter supporting the agency’s Clean Power Plan. That same day,
Bank of America Merrill Lynch announced that clean energy and climate change represent billions of dollars in
potential capital; the bank initially set a $20 billion goal, but achieving it four years ahead of schedule, increased
the lending, investing, and other support goal to $50 billion. The bank issued a second $600 million green bond
on May 14, after becoming the first corporate green bond issuer in the country last year. The EPA also released
a study on June 4 finding that fracking does not have a widespread impact on drinking water. The study provides
extensive detail on the potential of pollution and provides examples of definite contamination cases, but finds
that they are relatively limited.

Energy Navigator
Please visit and bookmark our Energy Navigator to easily view all of the latest headlines from the most trusted
publications reporting on developments in the energy and clean technology industries. It is housed on our blog,
Energy Technology Matters.

Upcoming Events
Energy Bar at Greentown Labs
July 9, 2015
Somerville, MA
More Info »
Impact Capitalism Summit New England 2015
July 15 – 16, 2015
Nantucket, MA
More Info »
12th Annual AREDAY Summit
August 8 – 13, 2015
Snowmass Village, CO
More Info »
Pathway to 2050
August 20, 2015
Sacramento, CA
More Info »
Solar Power International
September 14 – 17, 2015
Anaheim, CA
More Info »
Energy Storage North America
October 13 – 15, 2015
San Diego, CA
More Info »
Verge 2015
October 26 – 29, 2015
San Jose, CA
More Info »
NECEC’s 2015 Green Tie Gala
October 29, 2015
Boston, MA
More Info »

Contributors/Contacts
Thomas R. Burton III
Member
Chair, Energy Technology
(Boston)
617.348.3097
TRBurton@mintz.com

Sahir Surmeli
Member
Co-chair, Energy Technology
(Boston)
617.348.3013
SSurmeli@mintz.com
Susan L. Foster, PhD
Member
Corporate & Securities (London)
+44.20.7776.7330
SFoster@mintz.com

Bill Geary
Member
Intellectual Property (Boston)
617.348.3046
WGeary@mintz.com

David L. O’Connor
Senior Vice President for
Energy Technology
ML Strategies (Boston)
617.348.4418
DOConnor@mlstrategies.com

Jeffrey R. Porter
Member
Environmental (Boston)
617.348.1711
JPorter@mintz.com

Lisa Adams
Member
Intellectual Property (Boston)
617.348.3054
LAdams@mintz.com

Brady Berg
Member
Corporate & Securities (San
Francisco)
415.432.6003
BBerg@mintz.com

Evan M. Bienstock
Member
Corporate & Securities (New York)
212.692.6869
EMBienstock@mintz.com

Jonathan T. Cain
Member
Government Law & Contracts
(Washington)
202.585.3508
JTCain@mintz.com

Anne Campbell
Associate
Intellectual Property (London)
+44.20.7776.7317
ACampbell@mintz.com

Kristen Chapman
Project Analyst (Boston)
617.348.4868
KAChapman@mintz.com

Ralph A. Child
Member
Environmental (Boston)
617.348.3021
RChild@mintz.com

Hannah C. Coman
Associate
Corporate & Securities (Boston)
617.348.1703
HCComan@mintz.com

William “Mo” Cowan
Of Counsel
Litigation
Senior Vice President &
Chief Operating Officer
ML Strategies
(Boston)
617.348.1600
MCowan@mlstrategies.com

Julian Crump
Managing Partner, Member
Intellectual Property (London)
+44.20.7776.7302
JCrump@mintz.com

Daniel I. DeWolf
Member
Co-chair, Venture Capital &
Emerging Companies;
Corporate & Securities (New York)
212.692.6223
DDeWolf@mintz.com
Kristin A. Gerber
Associate
Corporate & Securities (Boston)
617.348.3043
KAGerber@mintz.com

Jeremy D. Glaser
Member
Corporate & Securities (San Diego)
858.314.1515
JDGlaser@mintz.com

Ian Hammel
Member
Bankruptcy, Restructuring &
Commercial Law (Boston)
617.348.1724
IAHammel@mintz.com

Irwin M. Heller
Member
Corporate & Securities (Boston)
617.348.1654
IHeller@mintz.com

Kanasha S. Herbert
Associate
Corporate & Securities (Boston)
617.348.3015
KSHerbert@mintz.com

Ken Jenkins, PhD
Member
Intellectual Property (San Diego)
858.314.1082
KJenkins@mintz.com

Jonathan L. Kravetz
Member
Chair, Securities;
Corporate & Securities (Boston)
617.348.1674
JLKravetz@mintz.com

Carl A. Kukkonen III
Member
Intellectual Property (San Diego)
858.314.1535
CAKukkonen@mintz.com

Cynthia J. Larose
Member
Corporate & Securities (Boston)
617.348.1732
CJLarose@mintz.com

David J. Leiter
President‚ ML Strategies‚
Washington‚ DC
ML Strategies (Washington)
202.434.7346
DJLeiter@mlstrategies.com

Lindsay Leone
Associate
Public Finance (Boston)
617.348.1728
LFLeone@mintz.com

Patrick Regan
Project Analyst (Boston)
617.239.8368
GPRegan@mintz.com

Jennifer Sacco Smith
Associate
Real Estate (Boston)
617.348.1678
JSaccoSmith@mintz.com

Chuck A. Samuels
Member
Antitrust/Energy Efficiency
(Washington)
202.434.7311
CASamuels@mintz.com

Gabriel Schnitzler
Member
Real Estate (San Francisco)
415.432.6004
GSchnitzler@mintz.com

Donald W. Schroeder
Member
Employment, Labor & Benefits
(Boston)
617.348.3077
DSchroeder@mintz.com

Terri Shieh-Newton, PhD
Member
Energy Technology (San Francisco)
415.432.6084
TShieh-Newton@mintz.com

Matt Simpson
Associate
Corporate & Securities (Washington)
202.434.7436
MTSimpson@mintz.com

Kaoru Suzuki
Associate
Corporate & Securities (Boston)
617.348.1847
KCSuzuki@mintz.com

Stanley A. Twarog
Member
Corporate & Securities (Boston)
617.348.1749
STwarog@mintz.com

Paula J. Valencia-Galbraith
Associate
Corporate & Securities (Boston)
617.210.6854
PVGalbraith@mintz.com

Michael D. Van Loy, PhD
Member
Intellectual Property (San Diego)
858.314.1559
MDVanLoy@mintz.com

Katy E. Ward
Associate
Environmental (Boston)
617.348.1850
KEWard@mintz.com

Paul H. Dickerson
Of Counsel
Corporate & Securities (Washington)
202.460.9286
PHDickerson@mintz.com

Meryl J. Epstein
Member
Corporate & Securities (Boston)
617.348.1635
MJEpstein@mintz.com

Gregory S. Fine
Member
Corporate & Securities (Boston)
617.348.3003
GSFine@mintz.com

R.J. Lyman
Member
Corporate & Securities, Project
Development & Finance
(Boston)
617.348.1789
RLyman@mintz.com

Audrey C. Louison
Member
Chair, Project Development &
Finance
(Washington)
202.434.7380
ALouison@mintz.com

Jeffrey A. Moerdler
Member
Real Estate, Communications,
Environmental (New York)
212.692.6700
JAMoerdler@mintz.com

William F. Weld
Member
Corporate & Securities
Principal
ML Strategies
(Boston, New York, Washington)
617.348.4412
BWeld@mintz.com

David Wraige
Associate
Intellectual Property (London)
+44.20.7776.7310
DWraige@mintz.com

Copyright © 2015 Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
5035-0615-NAT-ET/

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